What is a reduce only order on dYdX Exchange?
Reduce-Only is an order option that will only reduce your current position. Orders meant to close a position will not create an unintentional new position. This can happen if you close some or all of a position before a triggered order. For example, with reduce only enabled, if a stop loss closes part of your position, an open take profit order reduces by the corresponding amount. This prevents the take profit order from creating an unintended opposing position.
For market and limit orders, reduce only is not enabled by default. One exception is a market order created by the close position button. For stop and take a profit orders, reduce only is enabled by default.
To enable reduce only, check the box under advanced options in your order form.
An order option that, when enabled, only executes a trade to reduce your current position. This feature ensures that an order meant to close a position will not inadvertently create a new one.
Fill or Kill
An optional limit order setting that will only execute the order if the entire order can be filled; partial orders would not be executed.
Immediate or Cancel
An optional limit order setting that attempts to execute the limit order immediately. Any portion of the order that cannot be immediately executed will be canceled.